The most formally dressed up industry may have been the banks in the country but it appears that they are also allowing their employees to relax a bit on this count. On

Friday, reportedly JPMorgan Chase told 237,420 workers that it was changing its everyday dress code, business casual. This is a move that seems to be taken by JPMorgan to make its employees comply with the changing recent casual nature of today's work environment.

Reportedly, Jamie Dimon, the Chairman and CEO of JPMorgan Chase bought worth $26.6 million shares of his own bank. That might indicate his confidence in the bank although stocks have dropped to lower than they were about two years back.

JPMorgan Chase & Co. agreed to pay $307 million to end a probe by the Securities and Exchange Commission and the Commodity Futures Trading Commission which lasted for almost two years. The probe disclosed flaws and the bank admitted to two wrong doings.

JPMorgan Chase, the American multinational banking and financial services have been fined $307 million for misleading its customers and steering them to some of the investments that are connected to its own businesses.

JPMorgan Chase admitted of the wrong doing saying that it did not tell its customers clearly about conflicts of interest about how it managed their money.

Banks have provided a $1 billion credit line to Twitter that will help Twitter to manage its Initial public offering. The lenders include Goldman Sachs, Morgan Stanley and JPMorgan, reported Bloomberg.

Facebook obtained the unsecured line before it went public last year. The line was a fraction of the $8 billion.